Sigachi Industries Crashes 22% in 4 Sessions After Deadly Fire Incident; Plant Shut for 90 Days
By Shishta Dutta | Updated at: Oct 16, 2025 04:04 PM IST
Mumbai, July 2, 2025 – Shares of Sigachi Industries Ltd (NSE: SIGACHI) extended losses for the fourth straight session, plunging over 22% since June 26, following a tragic fire incident at its Pashamylaram facility in Telangana. The accident has resulted in the death of 40 employees and 33 injuries. The incident has shaken investor confidence. This resulted in a broad sell-off and triggered a steep decline in share prices.
Fatal Incident and Immediate Fallout
In a regulatory disclosure dated July 2, 2025, the company confirmed the accident was not due to a reactor explosion. Sigachi announced that operations at the affected unit will remain suspended for approximately 90 days, pending the outcome of an official investigation.
The company has committed to:
- ₹1 crore ex-gratia compensation to families of the deceased
- Full medical and rehabilitation support to the injured
Stock Performance Since the Incident
The stock has witnessed a sharp and persistent decline over the past four sessions:
| Date | Close Price (₹) | Daily Change (%) |
|---|---|---|
| 26-Jun-2025 | 56.03 | — |
| 27-Jun-2025 | 55.12 | -1.62% |
| 30-Jun-2025 | 48.76 | -11.52% |
| 01-Jul-2025 | 46.05 | -5.56% |
| 02-Jul-2025* | 42.80 | -7.06% (Intraday) |
*As of 11:56 IST
Market Depth Snapshot (as on July 2, 11:56 IST)
Sigachi’s order book paints a clear picture of panic-driven exits and skewed liquidity on the sell side.
Top Bids and Asks
| Bid Qty | Bid Price (₹) | Ask Price (₹) | Ask Qty |
|---|---|---|---|
| 269 | 42.78 | 42.80 | 8,010 |
| 1,234 | 42.76 | 42.81 | 29 |
| 3,073 | 42.75 | 42.82 | 437 |
| 1,538 | 42.74 | 42.83 | 29 |
| 1,056 | 42.73 | 42.84 | 5,588 |
Summary
On July 1, the stock witnessed robust trading activity with a total traded volume of 298.75 lakh shares, amounting to a traded value of ₹128.40 crore. The volume-weighted average price (VWAP) for the day stood at ₹42.98, while the stock touched an intraday low of ₹41.00.
| Metric | Value |
|---|---|
| Sell Quantity | 22.83 lakh shares |
| Buy Quantity | 20.06 lakh shares |
| Traded Volume (Jul 1) | 298.75 lakh shares |
| Traded Value | ₹128.40 crore |
| VWAP | ₹42.98 |
| Intraday Low | ₹41.00 |
| Price Band | ₹36.84 – ₹55.26 |
| Impact Cost | 0.11 |
The dominance of ask-side volumes shows continuous exit attempts, with prices getting pushed downward rapidly. Sell orders at and below ₹43 outnumber buy-side depth, reflecting weak short-term sentiment.
Regulatory & Strategic Context
While the company has initiated relief measures, it awaits formal findings from regulatory and forensic bodies. Investors are keenly watching for:
- Operational updates across other plants
- Possible liabilities or insurance developments
- Any promoter or institutional selling under SEBI (SAST) Regulation 29(2) if shareholding thresholds are breached
Sigachi has so far complied with SEBI LODR Regulation 30 by disclosing the incident and its impact in a timely manner.
Sigachi Industries Stock Performance
Sigachi Industries shares closed at ₹42.56, representing a 7.58% decline from the previous close. Sigachi Industries shares have declined by 29% over the last year, 15% year-to-date, and 20% in the previous month.
About Sigachi Industries
Sigachi Industries Ltd. is a leading manufacturer of pharmaceutical excipients, including microcrystalline cellulose. The company caters to the pharma and nutraceutical sectors and is classified under Pharmaceuticals.
The tragic incident and resulting plant shutdown have clouded the company’s near-term outlook. With investigations ongoing and trading volumes elevated, the coming weeks will be critical in assessing both operational recovery and investor sentiment.
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